Data on crude oil inventories will be released at 10:30 EST, while existing home sales for March will be released at 10:00 EST.
How gold and silver react to the report will depend on how the U.S. dollar index and crude oil react to the data.
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We forecast the price per barrel of crude oil and NGL based on data reported by the company, the Energy Information Administration and our own estimates.
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U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey, the weekly DOE crude oil stocks report, and monthly wholesale trade data.
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The recent weak U.S. economic data is bearish for crude.
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In economic news, expect to hear data on auto sales on Tuesday, crude inventories on Wednesday, factory orders on Thursday, and consumer credit on Friday.
West Africa produced 5% of the world's crude oil in 2002, according to Energy Information Agency data.
Refining companies Valero Energy, Sunoco and Tesoro all took a hit financially during that time (the most recent period for which data are available) largely because of high crude prices.
Crude oil prices traded solidly lower Wednesday on some profit taking from recent gains, on some bearish U.S. economic data released Wednesday and on a bearish weekly DOE crude oil stocks figure.
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Crude oil prices traded weaker Tuesday, pressured by the weak EU GDP data.
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France imported 20, 000 barrels per day of Iranian crude in the first half of 2011, according to United States government data.
Crude oil prices are trading weaker Tuesday morning, pressured by the weak EU GDP data.
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The chart on the right takes data from the US Energy Information Agency and plots total US inventories of crude plus all other categories of liquid hydrocarbons, and shows the change between the week ending on the x-axis date, and the inventories for the like week of 2010.
China released customs data for September showing higher imports of commodities in general, and record imports of crude oil in particular.
Of course, the model only looks at fundamentals and cannot quantify data such as the havoc caused by crises in the Islamic world and their effect on crude oil prices.
But given the amount of real time information that each business produces is it possible that rather establish up front a set of crude regulations that either allow or deny an activity, is it possible to pay attention to actual data to make sure that legitimate public interest goals are being met?
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Latest commitment of traders data from the CFTC does corroborate major speculator long liquidation in many commodity futures markets, especially crude oil.
The gasoline-demand data are among several market-moving reports that have come under question in recent years, including crude-oil inventories and natural-gas outputs.
Crude oil prices traded sharply higher early Thursday, following some better-than-expected U.S. economic data.
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Crude oil prices are trading lower again Friday morning on the EU debt woes, weak U.S. economic data and slumping stock markets.
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In the US, the economic data was mixed, as producer prices were up the most in three years, due in part to crude oil prices.
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